A fantastic outline of how we got to where we are today: Rachel Maddow on Ronald Reagan’s Failed Trickle-Down Voodoo Economics.
Their [financial analysts’] fear is that even when the economy recovers, the shortfalls will not disappear, because many state and local governments have so much debt — several trillion dollars’ worth, with much of it off the books and largely hidden from view — that it could overwhelm them in the next few years.
The Kenny Rogers Theory of the Bush Tax Cuts. Leonhardt works through the different possible scenarios and outcomes of the current tax cut issues and makes some pretty good cases. (Dammit.) I don’t have a problem with a possible 2% additional tax surcharge next year, but I can see how a lot of people would be unhappy with that…
On the outcome of the Catfood Commission: Hope For Life After Deficit Plan’s Death. Still the commission’s would-be recommendations are going to set the tone and direction of congressional debate for some time.
I hope so. Obama Tells Dems He’ll Oppose Tax Cut Deal Without Unemployment Benefits, Other Relief. Note the potential for allowing all the tax cuts to expire, a scenario discussed above in the “Kenny Rogers Theory.”